After the near fatal economic crisis almost killed off two of the big Detroit three American automakers, the automotive market’s situation is looking better than ever.
According to analysts polled by Bloomberg, tomorrow’s release of May numbers should continue to growth trend, with deliveries of US bound vehicles rising an average of 6.5% to reach a tally of 1.54 million units, and with seasonal trends adjustment amounting to an annual total of 16.1 million vehicles.
“Short of calling 2009 and bankruptcy a lucky break, it’s two different companies, different management, different products,” said Kevin Tynan, auto analyst for Bloomberg Industries. “It’s very easy for the consumer to look at it and say, ‘This is different; it was a different time and these cars are at least worthy of my consideration.’”
Both General Motors and Chrysler managed to reshape their business after the bankruptcy, while Ford did the same after a near miss – underlining the overall growth and restructuring of the American economy. More so, with new products, refreshed production facilities and better contracts for human resources management, the US automakers are also way more profitable today.
Back in the period between 1999 and 2007, US overall sales always exceeded 16 million annually, with a 2000 peak of 17.4 million – but, during that period, Ford had lost money in 2000,2001 and the 2008-2008 period, while GM was reporting losses each year from 2005 until it emerged out of bankruptcy.